Millennium Management LLC Purchases 96,057 Shares of Arq, Inc. (NASDAQ:ARQ)

Millennium Management LLC boosted its position in shares of Arq, Inc. (NASDAQ:ARQ - Free Report) by 167.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 153,470 shares of the company's stock after purchasing an additional 96,057 shares during the quarter. Millennium Management LLC owned about 0.37% of ARQ worth $1,162,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ARQ. Invesco Ltd. grew its position in shares of ARQ by 3,981.1% in the 4th quarter. Invesco Ltd. now owns 708,324 shares of the company's stock valued at $5,362,000 after purchasing an additional 690,968 shares during the period. Geode Capital Management LLC raised its holdings in ARQ by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 664,430 shares of the company's stock worth $5,031,000 after buying an additional 67,962 shares during the period. Dimensional Fund Advisors LP lifted its stake in ARQ by 65.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 449,312 shares of the company's stock valued at $3,401,000 after buying an additional 177,550 shares in the last quarter. 1492 Capital Management LLC boosted its holdings in shares of ARQ by 152.7% in the fourth quarter. 1492 Capital Management LLC now owns 388,633 shares of the company's stock valued at $2,942,000 after buying an additional 234,832 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of ARQ by 14.6% in the fourth quarter. Northern Trust Corp now owns 230,315 shares of the company's stock valued at $1,743,000 after buying an additional 29,427 shares during the period. 18.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other ARQ news, Director Richard Campbell-Breeden acquired 75,000 shares of ARQ stock in a transaction dated Friday, May 23rd. The stock was bought at an average cost of $4.10 per share, for a total transaction of $307,500.00. Following the purchase, the director now directly owns 226,148 shares in the company, valued at approximately $927,206.80. This represents a 49.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeremy Blank acquired 50,000 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $4.10 per share, with a total value of $205,000.00. Following the acquisition, the director now directly owns 374,955 shares in the company, valued at $1,537,315.50. This represents a 15.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 165,856 shares of company stock valued at $677,555 and sold 20,588 shares valued at $96,352. Insiders own 26.87% of the company's stock.

ARQ Stock Up 3.1%

Shares of ARQ stock traded up $0.16 during trading on Friday, reaching $5.30. The stock had a trading volume of 214,960 shares, compared to its average volume of 263,357. The company has a current ratio of 2.89, a quick ratio of 2.28 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $223.72 million, a price-to-earnings ratio of -530.00 and a beta of 1.70. The stock has a fifty day moving average price of $4.09 and a two-hundred day moving average price of $5.50. Arq, Inc. has a 52 week low of $3.34 and a 52 week high of $8.11.

ARQ (NASDAQ:ARQ - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.03). The business had revenue of $27.04 million for the quarter, compared to analyst estimates of $28.34 million. ARQ had a negative return on equity of 0.25% and a negative net margin of 0.44%. During the same quarter last year, the firm earned $0.14 EPS. Sell-side analysts predict that Arq, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price objective on shares of ARQ from $9.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, May 8th.

ARQ Profile

Arq, Inc is a holding company. It engages in the provision of environmental and emission control equipment to the power generation industry. The company operates through the following Segments: Refined Coal and Advanced Purification Technologies. The Refined Coal segment includes the Tinuum Group, Tinuum Services, and GWN Manager.